Innovation Fund Approved EUR 1.95 Million Financing for Serbian Enterprises

November 14th, 2012, Belgrade – Innovation Fund has announced today the results of Mini and Matching Grants calls for proposals implemented through the Innovation Serbia Project. The Innovation Fund’s Investment Committee awarded EUR 670,000 for Mini Grants projects and EUR 1.28 million for Matching Grants projects to 14 Serbian enterprises selected among 146 applications submitted in the call for proposals that ended August 31, 2012.

Both programs are implemented by the Innovation Serbia Project, which is financed through EU Instrument for Pre-Accession Assistance (IPA) funds and administered by the World Bank.

“The EU support through these programs is extremely valuable because of its direct impact on the Ministry of Education, Science and Technological Development efforts to reinforce and promote science and technological development in Serbia”, stated Mr. Zarko Obradovic, Minister of Education, Science and Technological Development.

“We are pleased with the progress made by the Innovation Serbia Project in supporting entrepreneurship in Serbia,” said Mr. Adriano Martins, Deputy Head of the EU Delegation in Serbia, and added, “The focus on technology development and innovation through the Mini and Matching Grant programs is essential for Serbia’s competitiveness and economic growth.

The Investment Committee selected 14 projects for financing among 98 Mini Grants applications and 34 Matching Grants applications, which underwent international peer review. The Mini Grants Program supports early stage development of innovative companies for one year, providing co-financing of up to EUR 80,000 and up to 85% of project cost.  The Matching Grants program enables established enterprises to enter development and commercialization of new products or service, providing co-financing of up to EUR 300,000 and up to 70% of project cost.

“It is vital that we successfully engage Serbia’s research community to think about its commercialization potential. Approximately 36% of applications are in collaboration with academia or spinoffs from research and development organizations” said Ljiljana Kundakovic, Interim Managing Director of the Innovation Fund, and added, “Project applications came from both hi-tech and traditional industries. The projects selected by the independent Investment Committee, have both the experience, potential and motivation to bring their products and services to market.”

Annex 1

Companies Financed under the Matching Grants Program

Tajfun Hil, founded in Novi Sad, is an enterprise dealing in energy and energy efficiency and they propose the world’s first renewable energy laboratory on the web for emulating high-power infrastructure. Major advantages are quick access to various tests, improved personnel and material safety, eliminated risk of catastrophic failures and overall improved effectiveness of R&D work.

BSK is a company from Obrenovac which specializes in agricultural machinery production. Their project, Air berry harvester, harnesses the power of wind to pick perfectly ripe berry fruit without any physical contact with the fruit or the plant itself, securing premium quality untainted goods.

Vizus operates from Nis and competes in metal doors and windows manufacturing industry. They offer an innovative solution for manufacturing of high efficiency window and door frames made of aluminum and wood, increasing thermal protection and window stability.

Desing is a company coming from 20 years of experience in food and agriculture and food processing, based in Belgrade. Their project will allow for innovative fruit preparations in the pilot aseptic plant, allowing the company to create very high quality fruit preparations, expand into the region and penetrate the fruit yogurt market.

Duochem is a company that’s been successfully competing in the biocide/pesticide industry for over a decade, located in Belgrade with a production plant in Nova Pazova industrial zone. The proposed ecofriendly biocide will eliminate mosquitoes and their larvae using a carefully designed container and an optimal mix of chemical agents for maximum efficiency and zero environment damage.

Companies Financed under the Mini Grants Program

Trk Inovacije, located in Novi Sad, plans to develop an electronic device for recording and recognizing intercom ring signal and automatic door unlocking. It is designed in order to simplify a tenant’s process of entering intercom-secured buildings and reduce wait times.

Coprix Media is located in Belgrade and deals in education, primarily aimed at preschool children. They’re trying to create a cross-platform application which will be fully adapted to the needs of kids between ages of 3 and 7 in terms of functionality, natural feeling of using a device to learn and quality of learning itself.

ETB, a company originating from Krusevac, aims to create a new method of manufacturing car balancing weights, resulting in a cheaper product with same qualities as the currently standardized ones, but bundled with an embedded layer of anticorrosive protection as well.

KreativTeh competes in the field of life sciences and is located in Belgrade. Their project, Nanoaktiv Wound Dressing, comes from alginate solutions and hydrogels with incorporated silver nanoparticles, synthesized by an original technology in different forms. The substance will be used to create various antimicrobial dressings for treatment of deep and surface wounds.

Bodytech, a Belgrade start-up company working in body care and maintenance, aims to offer a portable platform, or pad, for decubitus prevention. The proposed system would be a welcome addition to nursing homes, hospitals and households alike, targeting patients with limited mobility that spend a lot of time sitting or lying in one position.

mBrainTrain is a company focusing on biomedical electronics and ICT integration, which resulted in their project “Smarting”. They plan on creating a portable system which will measure EEG brain waves in people suffering from neural impairment and provide accurate readings on smartphones, which will further help to speed up recovery. They are located in Belgrade.

Chromosome Group aims to develop and build an automated device for filling, sealing and packaging plastic straws with liquid fertilizer for potted house plants feeding. The company operates from Belgrade and is oriented towards mechanical engineering and process automation.

Ekofungi comes from the food and agriculture industry and is located in Padinska Skela, Belgrade. Their project “From waste to taste” proposes the production of substrate for edible and medicinal mushrooms based on recycled organic and inorganic cellulose waste materials.

Stamar is a new enterprise from Leskovac, founded with the desire to create a vacuum dryer for various fruits and vegetables, curative plants and herbs. The energy-efficient dryer will preserve much more nutritional value of the product than standard driers do.


Source:  www.innovationfund.rs